How an ERP helps manufacturers to improve Procurement Process

As manufacturers want to minimize costs while maximizing production, the process of procuring materials, making products, and moving them where they need to be is more complex than ever. This can be simple if manufacturers increase visibility and information sharing through collaborative technologies like manufacturing ERP i.e., Business Central helps to optimize the procurement process within the supply chain for improved business processes and decision-making.

Dynamics 365 Business Central is a cloud-based ERP consisting of modules that simplifies purchasing and procurement planning to a great extent. Here in this blog post, we discuss how business central can simplify the procurement process.

How to Simplify Purchasing and Procurement Process with Dyn365BC

A business can configure Business Central to perform various tasks to simplify the procurement process. Some of them are:

• Business Central auto-calculates the time an item should be re-ordered and received.
• The workflows can map the price revision processes. The ERP procurement module can post sales transactions and manage receivables in multiple currencies for each customer.
• Add a purchase invoice as per the agreement with the vendor and include delivery and payment terms
• Generate a request for a quote for your vendor which can later be converted into a purchase order
• Create a purchase invoice for all or some of the items
• Automatically create a credit memo for unpaid purchase invoices and then either cancel the purchase invoice or recreate it so you can make corrections
• Add a purchase credit memo to revert a specific posted purchase invoice. So that it can reflect which products you are returning to the vendor and which payment amount you will collect
• Convert electronic invoices from your vendors to purchase invoices within Business Central

Business Central makes purchasing and procurement processes more efficient. Like it helps businesses to streamline their inventory management and vendor management significantly. Also, since it is a cloud-based ERP, it offers multiple benefits. If you want to know more about Microsoft Dynamics 365 Business Central implementation and its impact on your business, contact us today at MetaOption. Also, we provide ongoing support as per your business requirement.